Erdogan says US waging 'economic war' against Turkey

12 Août, 2018, 16:56 | Auteur: Anatole Charbonneau
  • Erdogan says US waging 'economic war' against Turkey

"The markets have lost confidence in the triumvirate of President Erdogan, his son-in-law as finance minister and the Turkish Central Bank's ability to act as it needs to", said Charles Robertson, global chief economist at Renaissance Capital.

"It is wrong to dare bring Turkey to its knees through threats over a pastor", Mr Erdogan told supporters. "This treatment by America of its strategic partner has annoyed us, it has upset us". "This will be my people's response to those who have waged an economic war against us".

Washington imposed the metals tariffs on national security grounds, claiming the glut of steel and aluminium harmed US companies and the economy.

"The entire Turkish public is against US policies that disregard Turkey's legitimate security demands.

We are knowledgeable with justice and law", Erdogan said in his address in the Black Sea province of Ordu on Saturday.

"They say we will not give this or that". There are multiple factors, many of which are related to the economic policies of Turkey's leader, Recep Tayyip Erdogan.

As the Turkish lira (TRY) plunged another 16% on August 10, beads of sweat must have been breaking out on the brows of anyone unduly exposed to the latest data on Turkey's foreign currency debts.

President Donald Trump said in a tweet Friday that he would hit Turkey with additional tariffs, as their national currency continues to drop.

Turkish officials insist the outcome of Brunson's case exclusively relies on the judiciary, a claim the United States has refused to buy in the light of Erdogan's earlier suggestions to swap him with Turkish opposition exiles residing in the US.

"We are aware that the issue is not the dollar, euro, gold. these are the bullets, cannon balls, missiles of the war started against us", said Erdogan.

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The news comes as Erdogan warned the United States that Turkey will seek "new friends and allies" in an editorial published in the New York Times today, urging them to respect Turkish sovereignty "before it's too late". Ankara has detained Mr. Brunson for almost two years, accusing him of links to the outlawed Kurdistan Workers Party and the Gulenist movement, which Turkey blames for a failed coup in 2016.

"Unless the United States starts respecting Turkey's sovereignty and proves that it understands the dangers that our nation faces, our partnership could be in jeopardy", he wrote.

Erdogan urged Washington to give up the misguided notion that bilateral relations could be "asymmetrical" and realise that Turkey had alternatives "before it is too late".

Unilateral steps taken by the U.S. only harm its interests and security, Turkish President Recep Tayyip Erdogan said Friday in an article he wrote for The New York Times, as reported on Anadolu Agency.

Hoping to put pressure on the North Atlantic Treaty Organisation ally to free the pastor, the White House sanctioned two top Turkish government officials.

The sanctions will freeze the U.S. assets of Turkey's minister of justice, Abdulhamit Gul, and its minister of interior, Suleyman Soylu.

The lira dropped by over 11 percent in value in one day on Friday morning to almost six lira per dollar.

It is unclear how that would justify higher tariffs on Turkey but not other countries.

In addition, foreign investors are disquieted by Erdogan's authoritarian government, which seems to be pursuing imprudent and politically charged economic policies which undercut the independence of the central bank - only worsening Turkey's economic predicament.

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